LB Foster Earnings: Here’s Why Investors are Happy Now
LB Foster Co. (NASDAQ:FSTR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.27%.
LB Foster Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 45.45% to $0.48 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 9.09% to $129.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LB Foster Co. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.40. It beat the average revenue estimate of $127.75 million.
Quoting Management: Robert P. Bauer, L.B. Foster’s President and Chief Executive Officer, had the following comments on the first quarter results, “The first quarter was a strong start for 2013. The strength continues to be centered around our Rail and Tubular products with our Q1 backlog increase all coming from our Rail Business. This performance puts us in a good position to make our 2013 plans. The operating leverage in the quarter continues to reflect our improvements in efficiency and nice growth from our more profitable product lines. We kept expenses under control in the first quarter as we wanted to build confidence in the economy before further investing in certain programs. Going forward, we will continue to focus on our high priority growth opportunities and we expect to increase capital spending.”
Key Stats (on next page)…